Antero Resources (NYSE:AR) Stock Bumped Up to Strong-Buy by Scotiabank

Key Points

• Scotiabank upgraded Antero Resources to “strong buy,” adding to generally positive analyst sentiment. The stock has a consensus “moderate buy” rating and an average price target of $48.11.
• Antero shares rose $2.11 to $38.55 during Wednesday trading. The company has an $11.85 billion market capitalization, a 52-week range of $29.10 to $45.75, and a price-to-earnings ratio of 11.08.
• Institutional investors own 83.04% of Antero’s shares, with several funds increasing their positions during the third quarter. Antero operates in the Appalachian Basin, producing natural gas, natural gas liquids and crude oil from the Marcellus and Utica shale formations.

Antero Resources (NYSE:AR - Get Free Report) was upgraded by analysts at Scotiabank to a "strong-buy" rating in a research note issued to investors on Wednesday, Zacks reports.

A number of other equities research analysts have also recently issued reports on AR. Morgan Stanley upped their price objective on shares of Antero Resources from $49.00 to $51.00 and gave the company an "overweight" rating in a research note on Thursday. Mizuho dropped their target price on shares of Antero Resources from $57.00 to $51.00 and set an "outperform" rating for the company in a report on Thursday, October 8th. Texas Capital raised Antero Resources to a "strong-buy" rating in a research note on Thursday, June 25th. Raymond James Financial lifted their price objective on Antero Resources from $50.00 to $55.00 and gave the stock a "strong-buy" rating in a research report on Tuesday, September 1st. Finally, Weiss Ratings downgraded shares of Antero Resources from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Monday. Five investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and seven have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $48.11.

Antero Resources Price Performance

NYSE:AR traded up $2.11 during midday trading on Wednesday, hitting $38.55. The company had a trading volume of 5,206,183 shares, compared to its average volume of 4,170,516. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.29. The stock's fifty day moving average price is $36.96 and its 200-day moving average price is $36.50. Antero Resources has a 52-week low of $29.10 and a 52-week high of $45.75. The company has a market capitalization of $11.85 billion, a PE ratio of 11.08 and a beta of 0.54.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Aspiriant LLC purchased a new stake in shares of Antero Resources during the 3rd quarter valued at about $235,000. Assenagon Asset Management S.A. raised its stake in Antero Resources by 20.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,558,278 shares of the oil and natural gas company's stock worth $52,031,000 after acquiring an additional 262,693 shares during the period. State of Alaska Department of Revenue raised its position in shares of Antero Resources by 1.0% during the 3rd quarter. State of Alaska Department of Revenue now owns 29,126 shares of the oil and natural gas company's stock valued at $972,000 after purchasing an additional 285 shares during the period. Curated Wealth Partners LLC lifted its position in shares of Antero Resources by 615.7% in the third quarter. Curated Wealth Partners LLC now owns 20,033 shares of the oil and natural gas company's stock valued at $669,000 after acquiring an additional 17,234 shares in the last quarter. Finally, Krilogy Financial LLC lifted its holdings in Antero Resources by 73.5% in the 3rd quarter. Krilogy Financial LLC now owns 33,505 shares of the oil and natural gas company's stock worth $1,225,000 after purchasing an additional 14,192 shares in the last quarter. 83.04% of the stock is owned by institutional investors.

About Antero Resources

Antero Resources Corporation NYSE: AR is an independent oil and natural gas company engaged in the acquisition, development and production of unconventional resources. The company's operations are focused primarily on the Appalachian Basin, where it produces natural gas, natural gas liquids (NGLs) and crude oil.

Antero's asset base is concentrated in the Marcellus and Utica shale formations in West Virginia and Ohio. Its products include pipeline-quality natural gas as well as NGLs such as ethane, propane, butane and natural gasoline.

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